Average price of bitcoin against the American stock market
Updated
Since I'm lazy, here's what I said on twitter: "Due to the stock market opening lower than it closed yesterday, this chart that takes into account the average price of #bitcoin against the sum of 
DJI 
NDX and 
SPX opened exactly at the 200 day moving average, rising as the day progresses... A 
BTC target ~
13K based on this"
I've been noticing clear inverse correlation with the American stock market and bitcoin(along with the inverse correlation with DXY). After realizing it was possible to form charts out of formulas using other charts as variables, I decided it would be very interesting to weight the American stock market against the average price of bitcoin across the 10 most significant exchanges according to me.
Unfortunately for the no coiners, I've been anticipating a significant recession that adds fuel to the next bitcoin bull run(see related ideas).
DJI NDX and SPX opened exactly at the 200 day moving average, rising as the day progresses... A BTC target ~13K based on this"I've been noticing clear inverse correlation with the American stock market and bitcoin(along with the inverse correlation with DXY). After realizing it was possible to form charts out of formulas using other charts as variables, I decided it would be very interesting to weight the American stock market against the average price of bitcoin across the 10 most significant exchanges according to me.
Unfortunately for the no coiners, I've been anticipating a significant recession that adds fuel to the next bitcoin bull run(see related ideas).
Note
At some point, TradingView changed something about how it parses the strings I was using for charts like this. As this one no longer works, here's a few more strings for charts I'm watching that convey the same or very similar data: Same(using the actual indices/real-time data): (BITSTAMP:BTCUSD+BINANCE:BTCUSDT+COINBASE:BTCUSD+BITFINEX:BTCUSD+KRAKEN:XBTUSD)/5-TVC:NDX-TVC:DJI-SP:SPX
Similar(conveys a ratio instead of a spread, also using the actual indices): (TVC:DJI+TVC:NDX+SP:SPX)/BITSTAMP:BTCUSD
Sameish(using futures instead): (BITSTAMP:BTCUSD+BINANCE:BTCUSDT+COINBASE:BTCUSD+BITFINEX:BTCUSD+KRAKEN:XBTUSD)/5-NQ1!-ES1!-DJIA1!
Similar(same as the first "similar" one, but using futures instead): (NQ1!+ES1!+DJIA1!)/BITSTAMP:BTCUSD
It just so happens that the sum of the indices at the moment is exactly 10 times that of the price of bitcoin, which is where it was in September of 2017 right before the crazy bitcoin FOMO.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.